VANCOUVER, July 14, 2017 /CNW/ - INVICTUS MD STRATEGIES
CORP. ("Invictus MD" or the "Company") (TSXV: IMH; OTC: IVITF; FRA:
8IS) is pleased to announce that its licensed production
facility under the Access to Cannabis for Medical Purposes
Regulations ("ACMPR"), Acreage Pharms Ltd. ("Acreage Pharms")
located near Edson, Alberta,
utilizing a multi-room indoor perpetual growing methodology, will
begin its first harvest the first week of August, with the second
harvest occurring the following week. The company anticipates
a harvest to take place approximately monthly going forward.
Invictus MD is further pleased to announce that Acreage Pharms
has received its development permit for Phase 2 and has broken
ground initiating construction on its 27,800 square foot purpose
built, multiple room production facility. All contractors and
suppliers necessary for the project have been scheduled. Invictus
MD has committed to investing $6.0
million, which will be used to fund the costs of
constructing the production facility.
"Following our successful harvest at the AB Laboratories
production facility as announced earlier, and by securing the
development permit for our Alberta
production facility, with $30 million
cash available and the majority earmarked for building production
capacity, Invictus MD is prepared for an exciting year of growth,"
said Dan Kriznic, Executive Chairman and CEO, Invictus MD. "Led by
one of the industry's most experienced teams, we are strongly
focused on building our shareholder value. With 250 acres of
cultivation space that stretches from Alberta to Ontario, allowing for purpose built production
facilities rather than retrofitting existing buildings, our large
land package allows for building cultivation facilities as demand
increases and we will continue the disciplined but agile execution
of our business strategy, and further establishing our leadership
position as Canada's cannabis
company" added Kriznic.
Invictus MD also announced that Mr Paul
Sparkes and Mr. Josef W.
Hocher have been appointed to the Company's Board of
Directors.
Mr. Paul Sparkes is an
accomplished business leader with over twenty five years'
experience in media, public affairs, venture capital, and
Canada's political arena. He is
Currently President of Otterbury Holdings Inc., a corporation
advising growth companies in the private and public markets.
Most recently Mr. Sparkes was Executive Vice Chair, Director
and co-founder of Difference Capital Financial, a TSX-listed
specialty finance company. Previously, Mr. Sparkes was Executive
Vice President, Corporate Affairs for CTVglobemedia (now
Bellmedia). Prior to joining Bell Globemedia in 2001 as Group
Vice-President, Public Affairs, Mr. Sparkes held senior positions
in public service, including with the Government of Canada and the Government of Newfoundland and Labrador. From 1996 to 2001, he served in the
Office of the Prime Minister of Canada as Director of Operations, and Special
Assistant for Atlantic Canada. Mr.
Sparkes also served as Executive Assistant to two Premiers of
Newfoundland and Labrador. Mr. Sparkes sits on several public
and private boards including Thunderbird Entertainment (private),
Bluedrop Performance Learning Inc. (TSXV: BPL), Antler Gold Inc
(TSXV:ANTL.V) BlastGard International Inc (BLGA-US) and is a former
board member of the Liquor Control Board of Ontario ( LCBO).
Mr. Josef W. Hocher was a founder
of Buried Hill Energy, an international oil and gas company, where
he acted as co-chief executive in creating, developing and
implementing the organization's strategic direction. He
continues to serve as the Senior Independent Director and is also
either a Chair or a member of various committees. Mr. Hocher also
founded Hitic Energy Ltd., and was a partner at Osler, Hoskin & Harcourt LLP. He
currently serves as Chairman of Orthoshop Geomatics Ltd., a
geomatics services company; holds the position of Chief Commercial
Officer at Field Upgrading Limited and Western Hydrogen Limited and
since 2016, has been a Partner at Cassels, Brock & Blackwell
LLP.
About Invictus MD Strategies Corp.
Invictus MD Strategies Corp. is focused on two main verticals
within the burgeoning Canadian cannabis sector: Licensed Producers
under the ACMPR, including its wholly owned subsidiary Acreage
Pharms Ltd., as well as its investment in the fully licensed
facility AB Laboratories Inc.; and Fertilizer and Nutrients through
Future Harvest Development Ltd.
For more information, please visit www.invictus-md.com.
On Behalf of the Board,
Dan Kriznic
Executive Chairman & CEO
Larry Heinzlmeir
Vice President, Marketing & Communications
604-537-8676
Cautionary Note Regarding Forward-Looking Statements: Statements
contained in this news release that are not historical facts are
"forward-looking information" or "forward-looking statements"
(collectively, "Forward-Looking Information") within the meaning of
applicable Canadian securities legislation and the United States
Private Securities Litigation Reform Act of 1995. Forward Looking
Information includes, but is not limited to, disclosure regarding
possible events, conditions or financial performance that is based
on assumptions about future economic conditions and courses of
action; and the plans for completion of the Offering, expected use
of proceeds and business objectives. In certain cases,
Forward-Looking Information can be identified by the use of words
and phrases such as "anticipates", "expects", "understanding", "has
agreed to" or variations of such words and phrases or statements
that certain actions, events or results "would", "occur" or "be
achieved". Although Invictus has attempted to identify important
factors that could affect Invictus and may cause actual actions,
events or results to differ materially from those described in
Forward-Looking Information, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended, including, without limitation, the risks and
uncertainties related to the Offering not being completed in the
event that the conditions precedent thereto are not satisfied. In
making the forward-looking statements in this news release,
Invictus has applied several material assumptions, including the
assumptions that (1) the conditions precedent to completion of the
Offering will be fulfilled so as to permit the Offering to be
completed on or about June 1, 2017;
(2) all necessary approvals will be obtained in a timely manner and
on acceptable terms; and (3) general business and economic
conditions will not change in a materially adverse manner. There
can be no assurance that Forward-Looking Information will prove to
be accurate, as actual results and future events could differ
materially from those anticipated in such statements. Accordingly,
readers should not place undue reliance on Forward-Looking
Information. Except as required by law, Invictus does not assume
any obligation to release publicly any revisions to Forward-Looking
Information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
SOURCE Invictus MD Strategies